Top 250 Franchise by Entrepreneur – Rank no.58 – Fantastic Sams Hair Salons – US
Products & Services: Full-service family hair salon
Number of Locations: 1,186
Total Investment: $116.09K – 236.1K
Began Franchising: 1976
About Fantastic Sams Hair Salons
Sam M. Ross started Fantastic Sams in July 1974, and the company began franchising in 1976, marketing its “fixed fee” system and “no appointment necessary” concept. The franchisor has full-service, family hair-care salons throughout the U.S. and Canada. In addition to cuts, perms and coloring services, Fantastic Sams sells its own line of shampoos, conditioners, styling aids and color treatments.
Startup Costs, Ongoing Fees and Financing
Franchise Fee: $30,000
Ongoing Royalty Fee: $291-452/wk.
Term of Franchise Agreement: 10 years, renewable
Net Worth: $250,000 – $300,000
Liquid Cash Available: $60,000 – $70,000
30% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 8. Absentee ownership of franchise is allowed. (50% of current franchisees are owner/operators).
|FINANCING TYPE||IN-HOUSE||THIRD PARTY|